All Forum Posts by: Phips Deus

I have a general strategy question: In some parts of the Metro Atlanta area, there are working class neighborhoods that have vacant properties. How viable is doing total teardowns and build ups, assuming acquisition and construction costs fit the 2% rule?

Here is my two cents: Whole life insurance is not not only a terrible investment, but it is terrible insurance. I should know, I was insurance agent for New York Life, the biggest seller of whole life insurance. Whole life insurance is the only financial vehicle/tool that provides high net worth individuals and families in the later stages of life the ability to do estate planning, contingency/succession planing, and tax planning, while still providing the opportunity for appreciation. The majority of people under the age of 40 would do better by taking money and investing into low cost, now load index mutual funds. The management fees inside actively managed funds and insurance policies are insane compared to  the best index funds from Vanguard and Fidelity.  

@Mark Allen is spot on. Also, I remember hearing in a podcast a while back that some lenders will let you put up your existing portfolio as collateral. That way you would not have to sell properties or take out a cash out refi!!

I agree with @Joshua D.! If you want to double your cash flow, multifamily is the way to go. Even if you start out with Triplexes and Quads, you will quickly find that using your HELOC and selling your highest value free and clear properties, you will be able to use leverage to increase your portfolio and your cash flow. You are also in great position to use owner financing and a decent rehab budget to do bigger multifamily deals (10+ doors)

Great idea Andrew!! I was hoping a live or recorded webinar would be an option!!

I realize that, I guess my real question is how in Gods green earth did they think they could get away with this once let alone multiple times.

I may be late, but I saw an article online that I wanted some opinion on. 

http://www.nwitimes.com/news/crime-and-court/three...

Basically, I wanted to know where did these guys go wrong? 

30008

A seller responded to one of my direct mail pieces and has an undeveloped 4 acre piece of land zoned for residential use in Marietta. Since I have never done a land deal, i am very inexperienced in doing comps for it. Is there anyone that might be able to point me in the direction of a resource where I can learn to do comps on land? Also Does anyone know developers that might want to build on a 4 acre piece of land in Marietta, GA?

Predicting the real estate market is difficult because it is not only influenced by the national economy but the state and local economy. If the national economy is doing very well, real estate in a certain city may still suffer because a large employer decided to move headquarters or move labor to a cheaper country. Also if the national economy is not doing well but 5 new hospitals are built in a city, the real estate market would still be very healthy